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Job cuts expand as tech, biotech companies plan new rounds of layoffs


job cuts

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Tech and biotech companies have begun unveiling plans to cut jobs in several waves in the Bay Area, controversial revelations that suggest existing layoffs will continue to grow.

Worrying news came to light after Microsoft announced it would cut 62 job in Mountain View, the layoffs went into effect on February 9, and marked the second time the tech giant has sent a layoff notice to the state’s labor agency.

As of July 2022, at least eight tech or biotech companies have notified the state’s Department of Employment Development of the plan to lay off multiple rounds.

Microsoft, Amazon, Intel, Twitter, Salesforce, PayPal, RingCentral and Zymergen have all sent WARNING notices reflecting at least two different rounds of layoffs.

All eight of these companies submitted their notices to the state on or after November 1, 2022. Six of the eight companies submitted notices disclosing the plan. job cuts This year, a review of the WARN notices shows.

Here’s the number of employees eight companies have decided to lay off in the Bay Area during at least two rounds of job cuts:

  • Salesforce, 1,010 in San Francisco
  • Twitter, 900 in San Francisco and San Jose
  • Amazon, 524 in Sunnyvale and San Francisco
  • PayPal, 378 in San Jose
  • Intel, 378 in Santa Clara
  • Microsoft, 107 in Mountain View and one in Santa Clara
  • RingCentral, 100 in Belmont
  • Zymergen, 293 in Emeryville

Seven of the companies filed two rounds of layoff notices with the state. Zymergen was the only one of the seven with more than two innings. The biotech company filed four different sets of layoff letters, the earliest of which was in late July and most recently in mid-January.

As of February 9, here are the 10 most recent WARN notices that tech or biotech companies have filed to reveal job cuts in the Bay Area. The list also shows the number of jobs affected in the most recent cut:

  • Lam Research, cutting 400 jobs in Fremont and Livermore
  • Mindspring Health Services, laid off 128 people in Menlo Park
  • Splunk, cuts 174 employees in San Francisco and San Jose
  • Autodesk, cutting 61 jobs in San Francisco
  • Salesforce, 258 layoffs in San Francisco
  • NetApp, 148 layoffs in San Jose
  • Workday, cutting 196 jobs in Pleasanton
  • Pinterest, 49 layoffs in San Francisco
  • eBay, 185 layoffs in San Jose
  • Microsoft, cutting 62 jobs in Mountain View

Beginning in mid-2022, tech and biotech companies have submitted plans to cut at least 19,500 jobs in the Bay Area with no sign of job losses starting to decline.

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Distributed by Tribune Content Agency, LLC.

quote: Job cuts expand as tech, biotech companies plan new layoffs (2023, February 14) accessed February 14, 2023 from https://techxplore. com/news/2023-02-job-widen-tech-biotech-firms.html

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